Alibaba 11.11 Shopping Festival Breaks Record

Alibaba Group Holding Ltd., China’s largest e-commerce company, had 35.19 billion yuan ($5.78 billion) in transactions on 11.11 one-day Shopping Festival. E-commerce firms took advantage of November 11, China’s Singles’ Day to promote and offer huge discounts to stimulate online shopping demand.

It solidly presented there are tremendous opportunities in Chinese market where the amount of mobile online users and their purchasing power are both rocketing. This signal is a vote of confidence to all Chinese e-commerce companies and investors.
I suggest, not only Alibaba, but all the e-commerce companies to improve customer service along with the goal of boosting sales revenues. Many customers asked for refund after waking from irrationality, thrill, and vertigo of robbing-like shopping, and found the quality disappointing. Thus I recommend online stores to provide more instant online shopping guidance and after-sale services.
However, while people were satisfied by discounts they’ve got, and shareholders of Alibaba were ecstatic at the crazy stampede and customers’ mania, we should not forget brick-and-mortar retail stores. Karen Leung’s Blog Post evaluate e-commerce’s advantage. The magnificent financial impact e-commerce exerted to our traditional retail industry will cause huge social problems like unemployment and unrest.

 

 

http://www.bloomberg.com/news/2013-11-11/alibaba-breaks-sales-record-on-china-singles-day-amid-discounts.html

image via Alibaba official weibo post

Sales Revenue on timeline

 

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